Solar PV module prices held steady in early 2026, but shifts in technology demand are beginning to change market dynamics, says Anza Renewables
Mono PERC module prices increased 20% to $0.33/W between November 2025 and February 2026 as TOPCon continues to be mired in patent infringement disputes
Policy timelines and trade developments are influencing procurement strategies and supplier preferences
Energy storage prices continued to soften, while some distributed-generation segments are showing signs of stabilization
Solar module prices remained largely stable in Q1 2026, but policy uncertainty and a shift toward domestic supply are reshaping market dynamics, according to Anza Renewables’ Q1 2026 Pricing, FEOC, & Domestic Content Report.
The report shows median module prices holding at $0.285/W between November 2025 and February 2026, rising by 9.6% from $0.26/W in March last year, while imported modules remained flat at $0.265/W.
However, mono PERC module prices increased 20% over the same period to $0.33/W, overtaking TOPCon modules for the first time outside last year’s Safe Harbor-driven surge, leading to a demand recovery for this technology relative to the industry’s current workhorse. In comparison, TOPCon prices remained roughly stable at around $0.28/W, while HJT modules held near $0.38/W, representing a 2% decline for each.
Anza, which says that it tracks over 95% of the US solar module supply, notes that the price of US-made cells increased 8.2% to $0.49/W, while prices for modules assembled in the US with international cells rose by 4.9% to $0.325/W.
The sharp rise in mono-PERC module prices, reports Anza, is driven by strong demand for domestically manufactured modules as buyers rush to secure supply ahead of the July 3, 2026, ITC Safe Harbor Deadline.
Moreover, the patent infringement disputes over TOPCon, along with the launch of the Section 337 investigation, are also contributing to the rising demand for mono-PERC (see First Solar Complaint Prompts USITC Section 337 Probe).
Demand for Foreign Entity of Concern (FEOC) compliant modules is also contributing to the rise in prices.
Analysts note that policy developments are beginning to influence pricing more directly. Upcoming decisions related to the Section 232 polysilicon investigation and the ongoing Section 337 case could further disrupt the market.
In comparison, energy storage prices continue to soften, especially for utility-scale projects, which Anza attributes to the normalization of raw-material costs, market overcapacity, and ongoing supply chain dynamics.
A utility-scale AC Wrap with 200 MW/4-hour capacity, the median pricing of $177/kWh declined by 8.6%, while it fell 5.8% to $145/kWh for a self-integrated system.
For the DG-scale AC Wrap of 10 MW/4-hour system, Anza says pricing dropped by 3.4% to $203/kWh, but increased by 1.1% to $175/kWh for a DG-scale Self-Integrated 10 MW/4-hour system.
“The stabilization and slight upward price trend in this segment appear to be driven by suppliers shifting their focus toward supporting larger IPP and data center projects,” explain Anza analysts.
They add, “As manufacturers increasingly prioritize these massive, often gigawatt-hour-scale deployments, the DG segment may be becoming an afterthought for many suppliers. This shifting priority is likely contributing to tighter supply conditions for DG-appropriate configurations, helping to firm up prices in the process.”
Going forward, Anza lists Section 337, India/Indonesia/Laos AD/CVD, Section 232 (polysilicon), and Section 301 (overcapacity and forced labor) as the policy risks to watch out for (see USTR Launches New Section 301 Investigations). The list also includes the Uyghur Forced Labor Prevention Act (UFLPA) and notes an ‘ongoing uptick’ in detentions in Q1 2026.
Recently, Qcells returned to normal solar panel production at its Georgia factories after it was forced to stop production following the CBP’s release of its shipments, which had been stuck for some months due to suspected use of Chinese components banned under the UFLPA (see Qcells Georgia Factories Resume Solar Panel Production).